Michael McGrath (Cork South Central, Fianna Fail)
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The authorisation and broader regulatory requirements applicable to regulated financial service providers operating in Ireland is dependent on the nature of the regulated activities carried out and as such regulated financial service providers may be subject to authorisation and regulatory requirements under different regimes.

The Central Bank of Ireland is responsible for the authorisation and supervision of investment funds established in Ireland. Investment funds are established for the purpose of investing the pooled funds of investors (held as units or shares) in assets in accordance with investment objectives and investment policies published in a prospectus.

There are two main categories of funds authorised by the Central Bank: Undertakings for Collective Investment in Transferable Securities (UCITS) and Alternative Investment Funds (AIFs). Further details on the legislation, authorisation process, supervision process, regulatory requirements, guidance and other relevant matters pertaining to regulated funds can be found on the following page of the Central Bank website: www.centralbank.ie/regulation/industry-market-sectors/funds